bymuratdeniz/iStock via Getty Images Twist Bioscience's ( TWST ) stock has rebounded sharply in recent months, driven by growing optimism around the impact of AI-enabled drug discovery and MRD testing adoption. Twist's Biopharma segment is reaccelerating, driven by AI-enabled drug discovery customers, and NGS growth is expected to rebound as FY27 progresses, driven by MRD customers. I previously s...
bymuratdeniz/iStock via Getty Images Twist Bioscience's ( TWST ) stock has rebounded sharply in recent months, driven by growing optimism around the impact of AI-enabled drug discovery and MRD testing adoption. Twist's Biopharma segment is reaccelerating, driven by AI-enabled drug discovery customers, and NGS growth is expected to rebound as FY27 progresses, driven by MRD customers. I previously suggested that macro headwinds and temporary challenges in the NGS business were weighing on Twist. The stock is up over 60% since then, with near-term weakness proving less severe than initially expected. While Twist's valuation isn't as compelling now, the stock should still provide strong returns over the next few years, driven by robust growth and improving margins. Increased expectations create the risk of a pullback, but I would view this as a buying opportunity given the strong prospects of the company. Market Conditions Twist has faced a challenging demand environment recently, but there is reason to believe that this situation is beginning to change. In particular, liquid biopsy-related NGS demand is ramping up, and AI is starting to become a tailwind amongst biopharma customers. This is noteworthy, as these are Twist's large end markets by far. While academic customers faced funding constraints in 2025, Twist still managed to generate 13% revenue growth from this segment. Twist is underpenetrated in this area but is growing faster than its competitors. The Industry and Applied segment is likely to remain a weak spot in the near term, but its size limits the importance of this. Figure 2: Twist Bioscience Revenue by End Market (source: Twist Bioscience) Twist's SAM has grown from 2 billion USD in 2020 to 7 billion USD in 2025 and is expected to further expand to 12 billion USD by 2030. NGS is the larger and faster-growing market and is likely to become increasingly dominated by oncology diagnostics in coming years. While this may seem like a relatively modest opportu...
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Japan’s government bonds gained after Prime Minister Sanae Takaichi’s historic election triumph fueled confidence among investors that increased fiscal spending can be digested by the market. Yields declined across the curve, with the biggest drop seen in that of the volatile 40-year tenor, which fell 9 basis points to 3.725%. Yields have now retreated to near levels seen in early January when Tak...
Japan’s government bonds gained after Prime Minister Sanae Takaichi’s historic election triumph fueled confidence among investors that increased fiscal spending can be digested by the market. Yields declined across the curve, with the biggest drop seen in that of the volatile 40-year tenor, which fell 9 basis points to 3.725%. Yields have now retreated to near levels seen in early January when Takaichi’s snap vote was first reported. That triggered a rout in Japanese debt that threatened to destabilize global bond markets. The reaction suggested that some fund managers are ready to give Takaichi the benefit of the doubt for now, betting that her success will allow for clearer policy and lower the risk of worst-case fiscal scenarios. Speaking Monday in a press briefing, the premier vowed to build trust with financial markets as concerns persist over how she’ll pay for a planned tax cut. “The bigger-than-expected victory over the weekend means the Takaichi government will be more fiscally sound,” as it reduces fiscal demands from her coalition party, said Russel Matthews , a senior portfolio manager at RBC BlueBay Asset Management. “We remain positive on the outlook for Japanese government bonds, particularly in the long and ultra-long sectors of the yield curve,” he said. Read more: How Takaichi Won Big in Japan’s Snap Election Yields on both 20- and 30-year bonds also fell around 6 basis points, to about 3.105% and 3.495% respectively, with the Japanese market getting support from US Treasuries . Moves were more pronounced for the 40-year sector, which has seen some wild swings over the past month, in part due to its low liquidity. The drop in yields was less for shorter-tenor notes on speculation the Bank of Japan may raise interest rates again in the months ahead. The swaps market is pricing in a 78% chance of a quarter point increase by the BOJ’s April meeting, and certainty of another hike by June. The yen, meanwhile, strengthened 0.2% to 155.56 against the doll...
AppLovin has quietly developed into one of the market’s more compelling growth stories. The company has delivered substantial appreciation in recent years as its industry-leading digital advertising platform expands at a rapid pace. Just as important, management has been aggressive in embedding AI across its ecosystem to improve targeting, optimize ad performance, and drive operating leverage, ini...
AppLovin has quietly developed into one of the market’s more compelling growth stories. The company has delivered substantial appreciation in recent years as its industry-leading digital advertising platform expands at a rapid pace. Just as important, management has been aggressive in embedding AI across its ecosystem to improve targeting, optimize ad performance, and drive operating leverage, initiatives that are increasingly flowing through to the bottom line. AppLovin shares are surging today after recent money laundering allegations against the company were withdrawn, removing a key overhang that had pressured the stock. Prior to the rebound, APP had fallen roughly 50% from its record highs, a drawdown that appeared disconnected from the company’s underlying momentum. While the recovery has been sharp, it may represent the early stages of a broader move higher rather than a short-lived bounce. Today, several of the industry’s strongest franchises are trading near cyclical lows, even as their competitive positions remain intact. AppLovin , Palantir Technologies , Salesforce , ServiceNow and Robinhood Markets stand out as leading platforms where valuations have reset and risk-reward profiles are becoming increasingly difficult to ignore. For much of the past decade, Wall Street assigned substantial valuation premiums to software companies, attracted by asset light models, high margins, recurring revenue, and near-zero marginal costs. In my view, many of those premiums became excessive, bordering on structural overvaluation, which kept me cautious on the sector despite the quality of the businesses. That backdrop has changed meaningfully. As a result, the market appears to be pricing in a level of disruption that does not align with the durability of the strongest platforms. Over time, sentiment tends to mean revert, and that dynamic is now creating compelling opportunities among premium software names. Software stocks, long viewed as some of the market’s most attr...